Metals and Oil – What To Expect Into Next Year
Doc joins me to provide his outlook on the metals and oil sector through year end. Still seeing these sectors under-pressure there are some key factors and levels to watch.
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Paul, I’m in no hurry yet to purchase GG. For a couple of reasons: 1. The technicals on GG are now yet impressive and other large cap PM stocks reveal that the technicals are compromised and further to fall. I don’t think GG will buck the trend since their last quarterly results were not exactly scintillating. I believe I’ll wait until 2019 when the stock forms a lower trading range and achieves some stability.
Hi Doc, I just sold the CAH I bought last summer@48 for 57.2 That helps make up for my losses on BTI which has fallen to 35 today and now yields over 7.5% So I’ve got the funds to buy IMBBY, BTI, or maybe even SLB. What do you think of SLB and IMBBY?
Michigan trounced Villanova and Indiana creamed Marquette last night, so the roundball game between Michigan and Indiana should be good, but in football the Hoosiers are 28 point underdogs. Be kind.
BB; I wouldn’t touch SLB yet. The odds are it is just starting its’ journey lower. IMBBY is a better bet and should challenge the 30 figure. You might want to take a small position.However, if the price would close lower then 30 on a monthly basis a couple of months I would probably cut my losses short. If it gets down there like I think, remind me again to look at the technicals.
Thanks, Doc. SLB was 120 just 4 years ago and has fallen to 48, so it would seem it started its journey lower long ago. I’ve owned IMBBY for decades and will never sell, but would like to buy more for the dividends. They sell more Cuban cigars than anyone and also sell Players, which Commander James Bond smoked.
Venezuela is rolling out a new ID card manufactured in China that can track, reward, and punish citizens
https://www.businessinsider.com/venezuela-id-card-tracks-citizens-like-china-2018-11
Investment adviser Joshua Hall (@truevineinvest) tells us about the production issues for the Vanadium market today.
PalisadeRadio – 16 Nov, 2018
https://twitter.com/PalisadeRadio/status/1063355266308153344
This move in gold would seem impulsive off the back of the Brexit drama. If so, that would mean this rally lacks substance and could quickly die off. Mind you, if our esteemed leaders cant get their houses in order then perhaps it could indicate that golds move is a precursor towards uncertain times. At this stage though, that may be drawing a long bow.
Doc you buying goldcorp here? What other majors you looking at since majors should lead us up when gold finally breaks out second half 2019.